business undertaking


business undertaking
The undertaking and assets of an economic entity - as distinct from a company. It is not a distinct legal person and its components, e.g. goodwill, plant, contracts etc., belong to the company or individual which owns them. Where a business is referred to as a going concern it means it carries the benefit of orders, contracts, customers and other aspects of revenue generation on a continuing basis.

Easyform Glossary of Law Terms. — UK law terms.

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  • undertaking — un·der·tak·ing n 1: a promise or pledge esp. required by law 2: something (as cash or a written promise) deposited or given as security esp. in a court ◇ Undertakings are often required of one party during property actions (as for attachment) in… …   Law dictionary

  • undertaking — un‧der‧tak‧ing [ˌʌndəˈteɪkɪŋ ǁ ˈʌndərteɪ ] noun 1. [countable usually singular] an important job, piece of work, or activity that you are responsible for: • Starting a new business can be a risky undertaking. 2. [countable] COMMERCE a business: • …   Financial and business terms

  • business — I (affair) noun activity, concern, duty, interest, matter, mission, proceeding, proposition, responsibility, task, undertaking foreign phrases: Allena negotia exacto officio geruntur. The business of another is to be carried out with particular… …   Law dictionary

  • Undertaking — Un der*tak ing, n. 1. The act of one who undertakes, or engages in, any project or business. Hakluyt. [1913 Webster] 2. That which is undertaken; any business, work, or project which a person engages in, or attempts to perform; an enterprise.… …   The Collaborative International Dictionary of English

  • Undertaking — may refer to: * The task performed by an undertaker. * The obligation resulting from a commitment that has been made. * In business, in particular in EU English , the term is used interchangeably with Enterprise, i.e. a business entity. * In… …   Wikipedia

  • business — [n1] job, profession bag*, biz*, calling, career, craft, dodge*, employment, field, function, game, line, livelihood, métier, occupation, pursuit, racket*, specialty, trade, vocation, what one is into*, work; concept 360 Ant. avocation,… …   New thesaurus

  • undertaking — [n] endeavor, attempt adventure, affair, business, deal, effort, engagement, enterprise, essay, experiment, game, happening, hassle, hazard, job, move, operation, outfit, play, project, proposition, pursuit, shop, striving, struggle, task, thing* …   New thesaurus

  • undertaking — [un΄dər tā′kiŋ; ] also, & for 3 always, [un′dər tā΄kiŋ] n. 1. something undertaken; task; charge; enterprise 2. a promise; guarantee 3. the business of an UNDERTAKER (sense 2) 4. the act of one who undertakes some task, responsibility, etc …   English World dictionary

  • business assets — The undertaking and assets of an economic entity as distinct from a company. It is not a distinct legal person and its components e.g. goodwill, plant, contracts etc. belong to the company or individual which owns them. Where a business is… …   Law dictionary

  • Undertaking — (Roget s Thesaurus) < N PARAG:Undertaking >N GRP: N 1 Sgm: N 1 undertaking undertaking Sgm: N 1 compact compact &c. 769 Sgm: N 1 adventure adventure venture Sgm: N 1 engagement engagement &c.(promise) 768 Sgm: N 1 enterp …   English dictionary for students


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